Crypto Bytes: Top 10 Breaking News from Cryptoverse

  1. Sam Bankman-Fried’s remaining charges from his tenure as head of FTX, which included allegations of bank fraud and international bribery, have been withdrawn, so there won’t be a second trial for him in March. 
  1. Tellor exhibited extreme volatility leading to $68M in liquidations, which in turn sparked speculation of market manipulation. The large concentration of 76% of the TRB token supply, held by 14 whale wallets, increases the possibility of pump and dump scams. 
  1. Early Access is available for SHIB domains, first-come, first-served. As per a recent update from D3, a domain name startup and Shiba Inu’s latest partner, SHIB’s campaign for decentralised identification is going strong. 
  1. Norges Bank has completed the fourth round of CBDC research. According to the study, tokenized deposits might operate in a manner as that of a retail CBDC. This is the service that will be the subject of future experimentation. 
  1. GIFT city in India has declared its intention to create a regulated marketplace for tokenizing assets. GIFT City’s financial authority declared that the tokenization platform will use blockchain technology to combine Web 3 and conventional finance.
  1. After releasing 1 billion XRP, or roughly $610M, on Jan. 1, 2024, Ripple returned 800 million XRP, or roughly $492.5M, to its escrow system. This is a part of Ripple’s monthly process to unlock and release a predetermined quantity of XRP from its escrow. 
  1. On the first day of the new year, the price of Bitcoin shot up more than 6%, breaking $45,000 for the first time since early April 2022. BTC ETF news could propel the pioneering cryptocurrency to new highs in 2024.
  1. The use of Polygon NFTs increased significantly in December 2023. Higher volumes are being driven by NFT collects related to a Stepn-linked game. In terms of NFT sales, Polygon continues to lag behind Solana, Ethereum, and Bitcoin.
  1. 10 Bitcoin mining operations have been shut down by Indonesian police, who accused the operators of stealing electricity worth close to $1M.
  2. As per reports, Twitter account of Compound Finance, a decentralised finance (DeFi) platform has been hacked.

Disclaimer: This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.

Author: Mehar Nayar

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